Brokers Set Expectations for Heron Therapeutics Inc’s FY2020 Earnings (NASDAQ:HRTX)

Heron Therapeutics Inc (NASDAQ:HRTX) – Research analysts at Jefferies Financial Group increased their FY2020 earnings per share estimates for Heron Therapeutics in a research report issued on Thursday, May 30th, according to Zacks Investment Research. Jefferies Financial Group analyst B. Amin now expects that the biotechnology company will post earnings of ($1.38) per share for the year, up from their previous estimate of ($1.47). Jefferies Financial Group also issued estimates for Heron Therapeutics’ FY2021 earnings at ($0.34) EPS, FY2022 earnings at $0.33 EPS and FY2023 earnings at $1.33 EPS.

Other equities research analysts have also recently issued reports about the stock. Cowen reissued a “buy” rating on shares of Heron Therapeutics in a research report on Thursday, May 9th. Northland Securities reissued a “buy” rating and issued a $55.00 price target on shares of Heron Therapeutics in a research report on Thursday, May 9th. Stifel Nicolaus reissued a “buy” rating and issued a $38.00 price target on shares of Heron Therapeutics in a research report on Wednesday, May 1st. ValuEngine cut shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Cantor Fitzgerald cut shares of Heron Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Heron Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $48.20.

HRTX traded up $0.11 on Monday, reaching $18.24. The company had a trading volume of 669,496 shares, compared to its average volume of 1,026,251. Heron Therapeutics has a 1 year low of $16.20 and a 1 year high of $42.75. The company has a market cap of $1.43 billion, a PE ratio of -7.48 and a beta of 1.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.40 and a quick ratio of 4.06. The stock’s 50-day simple moving average is $17.81.

Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.30). Heron Therapeutics had a negative net margin of 194.43% and a negative return on equity of 49.22%. The company had revenue of $31.60 million during the quarter, compared to analysts’ expectations of $28.04 million. During the same period last year, the firm earned ($1.09) earnings per share. Heron Therapeutics’s revenue was up 172.4% on a year-over-year basis.

Large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Heron Therapeutics during the fourth quarter worth about $13,679,000. Boston Advisors LLC raised its holdings in Heron Therapeutics by 443.9% during the first quarter. Boston Advisors LLC now owns 134,559 shares of the biotechnology company’s stock worth $3,288,000 after purchasing an additional 109,819 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in Heron Therapeutics by 144.6% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 19,690 shares of the biotechnology company’s stock worth $511,000 after purchasing an additional 11,640 shares in the last quarter. Legal & General Group Plc raised its holdings in Heron Therapeutics by 6.5% during the fourth quarter. Legal & General Group Plc now owns 27,564 shares of the biotechnology company’s stock worth $716,000 after purchasing an additional 1,679 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Heron Therapeutics by 1.7% during the fourth quarter. American Century Companies Inc. now owns 134,526 shares of the biotechnology company’s stock worth $3,490,000 after purchasing an additional 2,278 shares in the last quarter.

In other Heron Therapeutics news, Director John Poyhonen bought 3,000 shares of Heron Therapeutics stock in a transaction dated Wednesday, May 22nd. The stock was acquired at an average cost of $17.55 per share, with a total value of $52,650.00. Following the completion of the acquisition, the director now owns 13,000 shares of the company’s stock, valued at $228,150. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Waage Christian bought 1,400 shares of Heron Therapeutics stock in a transaction dated Wednesday, May 15th. The stock was acquired at an average cost of $18.04 per share, with a total value of $25,256.00. Following the completion of the acquisition, the director now directly owns 1,400 shares of the company’s stock, valued at approximately $25,256. The disclosure for this purchase can be found here. 12.56% of the stock is currently owned by corporate insiders.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc, a biotechnology company, engages in developing treatments to address unmet medical needs. The company's product candidates utilize its proprietary Biochronomer drug delivery technology, which delivers therapeutic levels of a range of short-acting pharmacological agents over a period from days to weeks with a single administration.

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Earnings History and Estimates for Heron Therapeutics (NASDAQ:HRTX)

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